As expected, Nokia's Q2 2012 financial results released today, Thursday 19th July, were not pretty. Shipments, revenues, profits, margin and ASP for the devices division were all down on an annual basis. Feature phone volumes stabilized, but smartphones continue to struggle due to weak Symbian demand. Indeed, Symbian remains a train wreck for the vendor and in hindsight it was arguably a mistake to publicly sunset the Symbian platform so soon earlier this year. All regions fell annually in handset-volume terms, except Asia (excluding China) which saw improved feature phone shipments. On the plus side, cashflow improved because of IPR payments, which will give Nokia some breathing space. We will be exploring Nokia deeper in a published report shortly on our Wireless Device Strategies (WDS) service.